The Manufacturers Life Insurance Company Makes New $598,000 Investment in Core Scientific, Inc. (NASDAQ:CORZ)

The Manufacturers Life Insurance Company acquired a new stake in shares of Core Scientific, Inc. (NASDAQ:CORZ - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 64,328 shares of the company's stock, valued at approximately $598,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise bought a new position in shares of Core Scientific during the second quarter worth about $28,000. Aspect Partners LLC acquired a new position in shares of Core Scientific in the 1st quarter worth approximately $29,000. Hexagon Capital Partners LLC bought a new stake in shares of Core Scientific in the 1st quarter valued at approximately $34,000. Rise Advisors LLC acquired a new stake in shares of Core Scientific during the 2nd quarter valued at approximately $65,000. Finally, Fiduciary Alliance LLC bought a new position in Core Scientific during the first quarter worth $84,000.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Sanford C. Bernstein reiterated an "outperform" rating and set a $17.00 target price on shares of Core Scientific in a research note on Tuesday, September 10th. BTIG Research raised their target price on shares of Core Scientific from $10.00 to $15.00 and gave the stock a "buy" rating in a report on Wednesday, June 26th. Needham & Company LLC assumed coverage on Core Scientific in a report on Wednesday, September 4th. They set a "buy" rating and a $16.00 target price for the company. Macquarie began coverage on Core Scientific in a research report on Wednesday, September 25th. They set an "outperform" rating and a $16.00 price target on the stock. Finally, B. Riley boosted their price objective on Core Scientific from $13.00 to $14.00 and gave the company a "buy" rating in a research report on Friday, October 11th. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $15.27.

Insider Transactions at Core Scientific

In other Core Scientific news, CFO Denise Marie Brucia Sterling sold 8,752 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $9.41, for a total transaction of $82,356.32. Following the completion of the transaction, the chief financial officer now directly owns 122,217 shares of the company's stock, valued at approximately $1,150,061.97. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Core Scientific news, CFO Denise Marie Brucia Sterling sold 8,752 shares of the business's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.41, for a total value of $82,356.32. Following the sale, the chief financial officer now directly owns 122,217 shares in the company, valued at approximately $1,150,061.97. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Todd M. Duchene sold 11,582 shares of the firm's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.41, for a total transaction of $108,986.62. Following the transaction, the insider now owns 1,686,474 shares of the company's stock, valued at approximately $15,869,720.34. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders purchased 12,761 shares of company stock valued at $127,080. Company insiders own 32.00% of the company's stock.

Core Scientific Trading Up 2.2 %

CORZ stock traded up $0.28 during trading on Wednesday, reaching $13.25. 7,956,452 shares of the company's stock were exchanged, compared to its average volume of 8,573,099. Core Scientific, Inc. has a 1-year low of $2.61 and a 1-year high of $13.51. The company's fifty day moving average price is $10.96 and its 200-day moving average price is $8.13.

Core Scientific (NASDAQ:CORZ - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($4.51) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($4.47). The company had revenue of $141.10 million for the quarter, compared to analyst estimates of $128.58 million. Core Scientific's quarterly revenue was up 11.2% on a year-over-year basis. As a group, research analysts expect that Core Scientific, Inc. will post 0.01 EPS for the current year.

About Core Scientific

Core Scientific, Inc provides digital asset mining services in North America. It operates through two segments, Mining and Hosting. The company offers blockchain infrastructure, software solutions, and services; and operates data center mining facilities. It also mines digital assets for its own account; and provides hosting services for other large bitcoin miners, which include deployment, monitoring, trouble shooting, optimization, and maintenance of its customers' digital asset mining equipment.